Canada - Barry, 75, & Honey Sherman, 70, found dead, Toronto, 15 Dec 2017 #3

[dotr]

• http://www.marketwired.com/press-re...erman-in-canadas-largest-lawsuits-1519397.htm
• May 26, 2011
• 

  Orphaned as a child, Kerry Winter and his siblings are suing the RBC's Royal Trust for mismanaging their parent's estates in the sale of their father's pharmaceutical business to their cousin Barry Sherman. The Winter orphans are also suing Sherman and his generic drug company Apotex, which they allege is their late father's business by another name.

Stonewalling the Orphans

RBC purchased the Royal Trust in 1993, but the bank's subsidiary has continued to fight all actions brought forward by the orphans. Not knowing the details of what happened to their father's companies, Jeffrey Barkin, one of the Winter orphans approached Royal Trust to learn more. Instead of assistance, the Royal Trust was uncooperative in providing access to his late parents' records. He was forced to take legal action against Royal Trust to review the estates' files.

While his case was before the court, an unexecuted copy of the purchase agreement was discovered in the records of lawyer David A. Ward Q.C. In 2002, Jeffrey's legal action against the Royal Trust was successful, and Ontario Superior Court Judge Romain Pitt ordered Royal Trust to provide access to all of the estate records to the children. However, the materials that were finally handed over, appeared to have been vetted and it further appeared documents were missing. Signed copies of the executed purchase agreement were not provided following the Pitt order. It was not until the after the children filed their action against Royal Trust did they receive a fully executed copy of the purchase agreement with the two separate related option and royalty agreements.

"Royal Trust has fought us every step of the way; first, by failing to cooperate in permitting us to review our family's estate documents, then by opposing our application for an order requiring production of the documents," explains Jeffrey Barkin.

"It started with some simple questions for the Royal Trust, who we thought would be cooperative in helping us, although it didn't turn out that way. We pulled on a string and everything started to unravel. I would never have guessed that things would turn out the way they did resulting in us having to pursue legal action against Royal Trust, Barry Sherman and Apotex."

 

[human]

Rbbm.
Sad and strange as it began so it ended, "extraordinary and bizarre situation" imo, speculation.
https://www.theglobeandmail.com/rep...family-feud-comes-to-the-fore/article1069800/

Since those lousy sums of momey, such as $15,000 a month (how much is that in today’s money) , were controlling them, they should have just said, “No”, and lived on their own.

 

[human]

As far as a job at the company, would an hourly wage or salary they could have received doing what? match $15,000 a month?

 

[MistyWaters]

"........The original suit was dismissed in 2015 but reinstated a year later.

A judge ruled in favour of Mr Sherman this September but the cousins planned to appeal.

Kerry Winter told the Toronto Star earlier this year: “I don’t know if it’s so much about getting five, 10 or ‘X’ amount of millions.

“To me this is about, and I know it sounds a cliché, it’s really about making Barry Sherman accountable.”.......
https://www.thejc.com/comment/analy...legal-dispute-that-would-not-go-away-1.450661

 

[Grey-St]

Since those lousy sums of momey, such as $15,000 a month (how much is that in today’s money) , were controlling them, they should have just said, “No”, and lived on their own.

It was the best if not only option they probably had at that time. It's probably difficult to say no when your circumstances are what they are. Also, easier said than done. What they needed, and what was offered, are two different things. But sometimes what you are offered, is what you take.

As far as a job at the company, would an hourly wage or salary they could have received doing what? match $15,000 a month?

Maybe, maybe not. But it would have provided them with a sense of purpose and work ethic that would have served them much better. It was too late by that point though. They couldn't have been hired by Apotex due to their criminal backgrounds and drug histories. What's more vital here are the years previous to this, where they lacked many things, and I'm not referring to money.

 

[kay74]

I think it's because with Empire, there was an agreement that the cousins have a stake in the company and job opportunities when they became of age. When BS sold Empire, that agreement was void. Some may feel that the human thing to do, would be to still honour that agreement over to Apotex, which was created on the profit made from the first company. Legally speaking, I suppose BS wasn't obligated to do that.

The cousins adoptive parents squandering their inheritance from the death of their parents, was also a sad and serious issue, yes.

If this is true, the cousins should have sued their adoptive parents.

 

[Grey-St]

"........The original suit was dismissed in 2015 but reinstated a year later.

A judge ruled in favour of Mr Sherman this September but the cousins planned to appeal.

Kerry Winter told the Toronto Star earlier this year: “I don’t know if it’s so much about getting five, 10 or ‘X’ amount of millions.

“To me this is about, and I know it sounds a cliché, it’s really about making Barry Sherman accountable.”.......
https://www.thejc.com/comment/analy...legal-dispute-that-would-not-go-away-1.450661

I think this is interesting. I think it shows that they feel deeply wronged, in ways that aren't just monetary.

 

[MistyWaters]

If this is true, the cousins should have sued their adoptive parents.

Small potatoes imo.

Unless it was later amended, the original lawsuit against Sherman and Royal Trust sought $1.5 billion in damages.

https://www.theglobeandmail.com/rep...family-feud-comes-to-the-fore/article1069800/

 

[MistyWaters]

It was the best if not only option they probably had at that time. It's probably difficult to say no when your circumstances are what they are. Also, easier said than done. What they needed, and what was offered, are two different things. But sometimes what you are offered, is what you take.


Maybe, maybe not. But it would have provided them with a sense of purpose and work ethic that would have served them much better. It was too late by that point though. They couldn't have been hired by Apotex due to their criminal backgrounds and drug histories. What's more vital here are the years previous to this, where they lacked many things, and I'm not referring to money.

BBM
I'm not sure, are you suggesting BS had an obligation to watch over his young cousins, even though they were adopted by another couple? Their parents died in 1965, 52 years ago. BS was 75 so he was only 23 years old at the time.

 

[JDG]

Their mother didn't want them raised by relatives. So the rabbi found a couple for them and they were adopted.
BS was in university at the time.

Toronto Life Bitter Pill

 

[pamelado2]

In 1967 Sherman was 25 and Kerry Winter was 5.

The 4 boys - Paul born in 1958; Jeffrey born in 1960;*Kerry*born in 1961; and Dana born in 1962 (deceased) were all under 8 when their parents died. Horribly sad.

In my opinion, it should have been handled by whoever was taking care of the boys and the estate. That deal was made with a company. Sherman and Ulster. Are they also going after Ulster?
Everything should have been written into the contract at the time of the sale, all contingencies.

Oh and $15000 a month, $180000/year for doing nothing? Yeah, I'll take it.


Sent from my Pixel XL using Tapatalk

 

[MistyWaters]

Yes Kerry was 55 when this was written in April, 2017.

........“I still believe . . . that Barry, in his own way, didn’t think I’d be this tenacious,” said Winter, 55.

“He must sit back some days and be amazed that I’m still in the ring, and I’m in the ring with a fine attorney, and a legitimate cause of action. I believe we have a great chance of winning.”......

https://www.thestar.com/news/gta/20...ned-cousins-seek-piece-of-apotex-fortune.html

 

[kay74]

Small potatoes imo.

Unless it was later amended, the original lawsuit against Sherman and Royal Trust sought $1.5 billion in damages.



https://www.theglobeandmail.com/rep...family-feud-comes-to-the-fore/article1069800/

Yes your right, but it's the principal of it. This should have been righted by the adoptive parents giving the boys their money that was due them. Did Barry have the right to sell Empire since the boys had a stake in it and were promised jobs? ​

 

[zencompass]

The adoptive parents had not been made aware of the 15% of the royalties of four chemical processes which the Winter children's father had developed. Neither Royal Trust nor Barry Sherman disclosed this.

Did those four processes include the generic aspirin, valium or saccarin which Empire produced?

To complete the deal, two agreements were in the final sales contract: (1) a 15-year royalty agreement for four chemical processes; and (2) an option for the children to become full-time employees after the age of 21 or following completion of their formal education, and a further option for each child to be given the opportunity to purchase a 5% interest after being employees for two years."

"The option and royalty agreements were designed to benefit the orphaned children, but those agreements were never disclosed to their adoptive parents or to the Official Guardian's Office by either Sherman or Royal Trust."

http://www.marketwired.com/press-release/orphans-fight-rbcs-royal-trust-and-apotexs-barry-sherman-in-canadas-largest-lawsuits-1519397.htm[/url]

https://www.theglobeandmail.com/new...ionize-canadas-drug-industry/article37355332/

 

[debanng]

obviously this money would have been held in trust and the adoptive parents would have to make a reasonable request i would think for the money to the trustees.

 

[Wyle_E_Coyote]

Since those lousy sums of momey, such as $15,000 a month (how much is that in today’s money) , were controlling them, they should have just said, “No”, and lived on their own.

Yup, like the older brother, Tim, who never got on the "give me money" gravy train.

These kids were raised in an affluent home and inherited a substantial sum when they came of age. The older one was successful, the younger ones put their money up their noses.

I was raised in poverty with abusive and uncaring parents. I took advantage of every opportunity that came my way.

These kids had every advantage and they blew it. I have no sympathy.

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[debanng]

when you dont know the facts hard to say no

 

[MistyWaters]

In 1967 Sherman was 25 and Kerry Winter was 5.

The 4 boys - Paul born in 1958; Jeffrey born in 1960;*Kerry*born in 1961; and Dana born in 1962 (deceased) were all under 8 when their parents died. Horribly sad.

In my opinion, it should have been handled by whoever was taking the of the boys and the estate.




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Even if they had, its near impossible, when young people are involved with drugs, to motivate them to go to university with the expectation they work for an uncle's company, who quite likely held high expectations of his employees. We also don't know the inheritance they received beyond the sale of Empire but quite probably there was more. By the 80's it gone?

Had BS not become highly successful and represented yet another gravy train, I doubt these cousins would've given him the time of day. JMO

 

[debanng]

the pretense of the sake was hinged on that fact

 

[debanng]

the ownership rests on the pretext of the sale...he had no intention to honour it